O K L A H O M A S T A T E E L E C T I O N B O A R D
STATE QUESTIONS FOR GENERAL ELECTION November 6, 2012
STATE QUESTION NO. 758 LEGISLATIVE REFERENDUM NO. 358
This measure amends the State Constitution. It amends Section 8B of Article 10.
The measure deals with real property taxes also called ad valorem taxes. These taxes are based on several factors. One factor is the fair cash value of the property.
The measure changes the limits on increases in fair cash value. Now, increases are limited to 5% of fair cash value in any taxable year.
The measure changes the cap on increases to 3% for some property. The 3% cap would apply to homestead exempted property. The cap would also apply to agricultural land.
The measure also removes obsolete language.
SHALL THE PROPOSAL BE APPROVED? FOR THE PROPOSAL — YES AGAINST THE PROPOSAL — NO